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Image : Montrealers rally to protest against Donald Trump's immigration ban

Montrealers rally to protest against Donald Trump's immigration ban

person Orange Themes access_time Jan 31,2017

Montreal Shooting Montrealers rally to protest against Donald Trump's immigration ban ... the U.S. consulate in Montreal Jan. 30, 2017, to protest against U.S. President Donald Trump's executive order that barring citizens from seven predominantly

Image : Trump speaks with Taiwan leader, risking Chinese anger

Trump speaks with Taiwan leader, risking Chinese anger

person Orange Themes access_time Dec 02,2016

New York (AFP) - President-elect Donald Trump broke with decades of US diplomatic policy Friday and spoke with President Tsai Ing-wen of Taiwan, at the risk of provoking a serious rift with China.

Image : GE, Baker Hughes create powerful new player in energy sector

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person Orange Themes access_time Oct 31,2016

NEW YORK (AP) — General Electric and Baker Hughes are combining their oil and gas businesses to create a powerful player in an energy sector buffeted by years of weak prices.

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Wheels up for China's new aero-engine group

access_time Aug 30,2016 chat_bubble_outline 136 views
Wheels up for China's new aero-engine group
Model of Commercial Aerospace Corporation of China's Comac C919 in Flight. Photo by AFP/Mike Clarke

China officially launched a new multi-billion dollar jet engine conglomerate with almost 100,000 employees at the weekend, as Beijing seeks to become an aerospace power and compete with the likes of Rolls Royce and General Electric.

The Aero Engine Corporation of China (AECC) has registered capital of 50 billion yuan ($7.5 billion), and previous reports said it would incorporate subsidiaries of a series of state-owned firms, including the Aviation Industrial Corp. of China (AVIC).

President Xi Jinping said founding the company was a "strategic move" to make China an aviation power and modernize the military, the official Xinhua news agency reported.

China does not make large commercial jet engines of its own and the country's narrow-body airliner, the C919, is powered by engines from CFM International, a venture between GE of the United States and France's Safran.

The best aircraft in China's air force use engines built in Russia, Xinhua said.

Beijing is looking to change that with the creation of a new national champion in the field as it seeks the prestige of having its own aviation sector.

Leaders have targeted the manufacture of high-technology products such as jet engines as a means to transform the world's second largest economy and make its firms more competitive with advanced foreign rivals in aerospace, biotechnology, alternative energy and other sectors.

Premier Li Keqiang said in written comments that making "breakthroughs" in advanced aircraft engines would have great value in strengthening the military and manufacturing ability of the country.

Xinhua cited him urging indigenous innovation to make AECC a world leader in aero-engines.

The new firm will employ 96,000 employees and be headquartered in the capital, reports said, with China's State Council, or cabinet, and the Beijing city government also investing in it.

But industry executives say it could take years for the firm to develop the engines to power big commercial jets.

Earlier this summer China's homegrown regional jet the ARJ21, made by AECC investor the Commercial Aircraft Corp. of China (COMAC), made its first commercial flight after years of delays, though its quality and reliability still have to be established to win over customer and passenger confidence.

Vietnam emerges as a magnet for foreign direct investment

Laborers work at a garment factory in Bac Giang province, near Hanoi October 21, 2015. Photo by Reuters/Kham/File Photo Global investors have their eyes on “emerging Asian countries”, and Vietnam is no exception, according to the latest report released by the United Nations Conference on Trade and Development. Statistics show that last year emerging economies in the Asian region welcomed $541 billion in investment. The report said investors have recently started to target Vietnam while many… chat_bubble_outline Read More...

US 'hostility' grows despite nuclear deal: Iranian official

Tehran (AFP) - US "hostility" to Iran is growing day by day despite Tehran's nuclear deal, a senior Iranian official said Sunday, ahead of the first anniversary of the historic accord."The United States has done whatever it can do slow down Iran's progress" after the deal, said Deputy Foreign Minister Abbas Araghchi, the chief Iranian negotiator in the agreement that took effect on January 16 last year."In the last 12 months, we have witnessed delays and the disrespecting of promises by the US… chat_bubble_outline Read More...

Harvard is dropping the LSAT requirement. Will other schools follow?

Students hoping to join Harvard Law School’s incoming class of 2018 can throw their LSAT scores out the window in favor of submitting GRE results, as the school turns its back on a nearly 70-year-old tradition in hopes of expanding its applicant pool.At Harvard, educators hope that doing away with the LSAT requirement will open access to those who cannot afford to prepare for or take more than one exam, as well as prospective students abroad who have less access to the Law School Admissions… chat_bubble_outline Read More...

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